Theon International Plc (THEON) has announced the next step in its €10 million investment plan, initially unveiled in October 2024, which concerns the development of new products to be integrated on operational platforms.
THEON Reaches Agreement to Acquire a 9.8% Stake in Exosens
Defence Redefined
12/10/2025
Theon International Plc (THEON) has reached a definitive agreement with investment firms HLD Europe SCA, Invest Prince Henri SCA, and Invest Gamma Sàrl, all belonging to Groupe HLD (HLD), for the acquisition of a 9.8% stake in Exosens SA (EXOSENS) for a total cash consideration of €268.7 million, corresponding to €54.0 per share.
EXOSENS is a leading French company specialising in advanced technologies in the field of electro-optical systems, including light-intensification, detection, and imaging solutions.
Upon completion of the transaction, THEON will become the second-largest shareholder of EXOSENS, after Groupe HLD.
Completion of the transaction is subject to regulatory notifications in selected countries and is expected to take place in early Q1 2026.
As part of the transaction, UBS Europe SE and Citibank Europe PLC have agreed to provide bridge financing, which is intended to be refinanced through a combination of debt and a new share issuance within existing shareholder authorisations, ensuring the maintenance of a strong and flexible capital structure.
UBS Europe SE acted as exclusive financial adviser to THEON, while Clifford Chance provided legal counsel.
Also read: THEON | 100% Acquisition of Germany-based Kappa Optronics
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